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What is Real GDP To be able to make reasonable comparisons of GDP over time, we must adjust for inflation. For instance, if prices are doubled over 1 year then GDP would doubl
Shortage, Surplus and Price Mechanism: A shortage is the situation in which the demand exceeds supply, which means producers are unable to meet the market demand for the produc
Do neoclassical economists view prices and wages as stickly or flexible
Rational Expectations School Expectations on the future values of economic variables play an important role in macroeconomic analysis and economic analysis in general. Because
what are the advantages and disadvantages of unemployment
The Marginal Costs (MC) for a firm is given by the function MC=50x. Please find the Marginal Revenues (MR) for each of the following scenarios (if appropriate). Then, find the prof
Aggregate Supply in the Short Run Production takes place in business sector on the basis of an expected price for its output. However, costs are incurred in anticipation of sa
In a large open economy, if the economy has a fiscal expansion, what would happen in the solow model?
What do is and LM curve signify?
What are the instruments of monetary policies
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